Qatar state investor buys key London property

London, October 7, 2007

Qatar has agreed to buy part of a London residential development through the investment agency that acquired the Chelsea Barracks from Britain's defence ministry this year, a spokesman for the agency said on Sunday.

State-owned Qatar Diar agreed to buy three buildings of the Grosvenor Waterside development in Chelsea. When they are completed in 2012, the buildings will have 335 apartments, the spokesman said, confirming a statement carried by local media.

The statement did not say how much Diar agreed to pay London developer St. James Group Ltd for the properties.